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January 24, 2020
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Basil officially takes office as the country’s Treasurer

By Meriba Tulo – EMTV News, Port Moresby

Bulolo MP, Sam Basil, today officially began his duties as the country’s treasurer – this followed a handover-takeover ceremony with outgoing treasurer, Charles Abel. Whilst commenting the work of treasury in the last two years, Minister Basil is also committed to continuing reforms started by Minister Abel. Among his first priorities, providing a comprehensive update on the state of Papua New Guinea’s economy.

Staff from the Department of Treasury today witnessed the changing of the political head of this key department, with Sam Basil officially taking over from Charles Abel as the PNG’s Treasurer, following a change in the nation’s political leadership.

Speaking to the media afterwards, the outgoing Treasurer highlighted some areas where policy work had begun but needed to be followed through by the new Treasurer.

Given a shift in focus from the non-renewable to renewable sector by the Marape-Steven Government, Minister Abel also highlighted the need to put in place a sovereign wealth fund – something that continued to remain an incomplete task by government to date.

Sam Basil’s elevation to the role of Treasurer comes at a time when the economy is slowly showing signs of improvement. He has realised this and has committed to continuing policy reforms that have begun under Minister Abel’s tenure.

According to the Treasurer, this includes moves to provide more visibility on revenue coming into government coffers.

In the more immediate future, the Treasurer has also committed to providing a comprehensive state of the economy report, to be tabled in parliament when it resumes later this month.

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